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Dr. Stefan Kolek
EEMEA Corporate Credit Strategist
UniCredit Bank, Munich
Am Eisbach 4 - MRE6CS
80538 Munich
Germany
+49 89 378-12495

Stefan Kolek is a senior credit strategist focusing on emerging European corporate credits. He has more than 15 years’ experience in fixed income and credit research. Stefan has a master’s in economics from Universität Bonn (Dipl.-Volkswirt), a master's (MAS) in applied history from University of Zurich and a doctorate from Universität Halle-Wittenberg.

Latest contribution

fb2192fdc7ec48e8b8765ac146f22392de0d0b8c5e5a456568140930f1a5f7b5;;[{"layout":"detailed","uid":24050,"publicationDate":"03 Dec 20","emaObject":{"protectedFileLink":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_178685.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2npiIhNkXBBHa2N8hoO2XWEw==&T=1","protectedFileLinkDe":"https:\/\/www.research.unicredit.eu\/DocsKey\/fxfistrategy_docs_2020_178812.ashx?EXT=pdf&KEY=KZGTuQCn4lsvclJnUgseVFcI2-vTFR2n65M1ZiLkezQQ5vDJdlNayQ==&T=1&T=1","protectedFileLinkIt":""},"title":"Shortened version of the Euro Credit Pilot (December 2020)","titleDe":"Gek\u00fcrzte Version des Euro Credit Pilot (Dezember 2020)","titleIt":"","product":"Euro Credit Pilot - Strategy","synopsis":"<p class=\"ucrIndent\"><p>This is a shortened version of the Euro Credit Pilot, which we deem to be an acceptable minor non-monetary benefit under MiFID II.<\/p><\/p><p class=\"ucrIndent\"><p>The COVID-19 pandemic has created unprecedented uncertainty in the global economic outlook, implying low visibility into the future. In our base scenario, while the macro picture might be uncertain, particularly at the beginning of 2021, we expect, however, the credit market to see another strong year, supported by an economic rebound from 2Q and technical factors.<\/p><\/p>","synopsisDe":"<p class=\"ucrIndent\"><p><em>\u00dcbersetzung der englischen Originalversion vom 3. Dezember 2020<\/em><\/p><\/p><p class=\"ucrIndent\"><p><em>Diese Publikation ist eine gek\u00fcrzte Version unseres Euro Credit Pilot, die wir als annehmbare geringf\u00fcgige nicht-monet\u00e4re Zuwendung gem\u00e4\u00df MiFID II betrachten. <\/em><\/p><\/p><p class=\"ucrIndent\"><p>Die COVID-19-Pandemie hat eine noch nie dagewesene wirtschaftliche Unsicherheit geschaffen, was eine hohe Prognoseunsicherheit mit sich bringt. In unserem Basisszenario gehen wir jedoch davon aus, dass der Markt f\u00fcr Unternehmensanleihen trotz der Unsicherheit in der makro\u00f6konomischen Entwicklung, insbesondere zu Beginn des Jahres 2021, ein weiteres starkes Jahr erleben wird. Unterst\u00fctzung kommt dabei vor allem durch eine wirtschaftliche Erholung ab dem 2. Quartal und technische Faktoren.<\/p><\/p>","synopsisIt":"","hash":"fb2192fdc7ec48e8b8765ac146f22392de0d0b8c5e5a456568140930f1a5f7b5","available":"0","settings":{"layout":"detailed","size":"default","showanalysts":"-1","showcompanies":"-1","showcountries":"-1","showcurrencies":"-1","nodate":"0","notitle":"0","noproduct":"0","noflags":"0","dateformat":"d M y","nolinktitle":"0","synopsislength":"400","synopsisexpand":"1","shownav":"0","limit":"1"}}]

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